Astoria Portfolio Advisors LLC. lifted its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 110.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,290 shares of the iPhone maker’s stock after buying an additional 13,301 shares during the quarter. Apple comprises 2.5% of Astoria Portfolio Advisors LLC.’s holdings, making the stock its 8th biggest position. Astoria Portfolio Advisors LLC.’s holdings in Apple were worth $3,458,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Elk River Wealth Management LLC lifted its stake in shares of Apple by 49.0% during the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after buying an additional 54,989 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Apple by 8.3% during the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock valued at $13,029,000 after buying an additional 5,703 shares during the period. Piscataqua Savings Bank lifted its stake in shares of Apple by 1.5% during the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after buying an additional 684 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Apple during the first quarter valued at approximately $171,000. Finally, Chico Wealth RIA purchased a new position in shares of Apple during the first quarter valued at approximately $7,794,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Wall Street Analysts Forecast Growth
AAPL has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Credit Suisse Group set a $201.00 price target on shares of Apple in a research note on Thursday, September 8th. KeyCorp increased their price target on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. Loop Capital cut their price target on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Finally, Oppenheimer reissued an “outperform” rating and issued a $190.00 price objective on shares of Apple in a research report on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $181.52.
Apple Trading Down 1.1 %
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.30 EPS. On average, equities analysts expect that Apple Inc. will post 6.11 earnings per share for the current year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.61%. Apple’s dividend payout ratio is presently 15.18%.
Insider Activity at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
- Get a free copy of the StockNews.com research report on Apple (AAPL)
- Kroger’s is Your One-Stop Consumer Staples Stock
- Adobe Perfects the Art of the Faceplant for Investors
- Tax Credits are the Incentives in the Inflation Reduction Act
- 3 Banks Worth Considering For Q4
- Stock Market: 3 Islands Of Strength In A Sea Of Red
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.